An empirical study of the factors affecting Internet security for the financial industry in Taiwan

Security is a pre-requisite for internet banking. The purpose of this study is to explore the factors that are important to the implementation of Internet security of different types of financial institutes. A questionnaire survey was conducted on all types of financial institutions in Taiwan. A total of 573 questionnaires were mailed out to CIOs in domestic financial institutions with a response rate of 11.69%. The results of the study showed that different types of financial institutions have significantly different levels of concern in terms of factors such as the concern of software systems, hardware security, executives support, internal Internet system users, organizational characteristics, and organizational security policy. The implications of this study are discussed and suggestions for future research are presented.